Today Peter Boockvar sent King World News a fantastic piece discussing gold’s surge, silver’s breakout and central planners eventually getting overwhelmed by market forces.
Peter Boockvar: “Most noteworthy in Europe today is the uptick in interest rates coincident with the rise in US rates and on the heels of the highest closing level yesterday in the CRB index since December 4th and persistent rally in stocks. The German 10 year yield is higher by almost 7 basis points to .22%, the biggest one day basis pt move in six weeks and to a one month high. Yields in Asia also moved higher overnight.
As my readers know that I believe commodity prices will continue higher and have put in a major bottom, global interest rates have likely bottomed as well with the obvious caveat being the actions of our central bankers to keep alive the inherent conflict of wanting higher inflation at the same time as they suppress interest rates. Central banks have certainly won the battle for lower rates but the market will eventually win the war for higher ones if headline inflation actually moves up at some point.
Boockvar Bullish On Gold & Silver
Precious metals, a great voting machine on monetary policy and FX moves, continue higher with silver in particular breaking out to the highest level since May 2015. I remain very bullish on silver and gold.”
***KWN has now released the powerful audio interview with whistleblower Andrew Maguire and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
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